Act No. 3425 Section 32

Purchase by the association of its common stock.

Section 32

SEC. 32. Purchase by the association of its common stock.—The association may, at any time, as specified in the by-laws except when the debts of the association exceed fifty per cent of the assets thereof, buy in or purchase its common stock at the book value thereof, as conclusively determined by the board of directors, and pay for it in cash within one year thereafter.

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Other provisions in Act No. 3425

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationAct No. 3425 Section 32 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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